Indian fintech Navi raises $100 million from Prosus

Indian fintech Navi has raised $100 million from Prosus, marking the first institutional funding for the eight-year-old startup founded by Flipkart co-founder Sachin Bansal (pictured above, right).

The investment values Navi at about $1.3 billion, according to people familiar with the matter. It comes after the Bengaluru-based startup sought to raise external capital from institutional investors at a valuation of about $2 billion in 2024.

Bansal founded Navi in 2018 after leaving Flipkart following its sale to Walmart. The fintech provides a range of financial services, including digital payments, lending, insurance, and mutual funds.

The investment, subject to customary closing conditions and regulatory approvals, comes as Navi is reportedly preparing to go public and raise ₹30 billion (about $314 million) in an initial public offering. Originally, the startup had filed for a $440 million IPO in 2022 but abandoned the plan the following year as the IPO market slumped.

Bansal had co-founded Flipkart with Binny Bansal in 2007 and helped turn the online bookseller into India’s leading e-commerce company. He left Flipkart and sold his stake in 2018 shortly before Walmart closed the $16 billion deal to acquire a majority stake in the firm. Following his Flipkart exit, Sachin Bansal started Navi and even poured hundreds of millions of dollars of his own money into the venture, which he has sought to eventually build into a bank.

In the financial year ended March 2026, Navi reported that it generated ₹30.91 billion (about $323.33 million), while its net loss grew to ₹4.66 billion (around $48.74 million).

Navi’s app, which offers digital payments through the Indian government-backed system Unified Payments Interface (UPI), is the country’s fourth-largest UPI app, behind Walmart-owned PhonePe, Google Pay, and Paytm. The app processed over 947 million transactions valued at ₹483.18 billion (about $5.05 billion) in July, per the data available on the National Payments Corporation of India (NPCI) website.

Navi Finserv, its lending arm, has more than ₹130 billion (about $1.4 billion) in assets under management. Moreover, the startup says it serves hundreds of millions of users across India and reached consolidated profitability in Q4 of fiscal 2026.

Bansal said the Prosus investment was a “strong endorsement” of the institution Navi is building, adding that the startup valued the investor’s global perspective and experience scaling technology businesses. He did not respond to a request for comment on the valuation.